Diplomat Pharmacy (NYSE:DPLO) Downgraded by Zacks Investment Research

Diplomat Pharmacy (NYSE:DPLO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Diplomat Pharmacy, Inc. operates as an independent specialty pharmacy in the United States. It aids in the dispensing, delivery, dosing and reimbursement of clinically intensive and specialty drugs. The company focuses on medication management programs for people with complex chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, HIV, specialized infusion therapy and many other serious or long-term conditions. Diplomat Pharmacy, Inc. is headquartered in Flint, Michigan. “

Several other research analysts also recently commented on DPLO. ValuEngine raised shares of Diplomat Pharmacy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Wells Fargo & Co raised their price target on shares of Diplomat Pharmacy from $5.00 to $5.50 and gave the stock a “market perform” rating in a research note on Tuesday. Guggenheim began coverage on shares of Diplomat Pharmacy in a research note on Wednesday, April 17th. They issued a “neutral” rating and a $6.00 price target on the stock. Barclays set a $7.00 price target on shares of Diplomat Pharmacy and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Credit Suisse Group reduced their price target on shares of Diplomat Pharmacy from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $9.85.

DPLO stock opened at $5.09 on Wednesday. The company has a market capitalization of $411.00 million, a PE ratio of 25.45 and a beta of 1.06. Diplomat Pharmacy has a 12 month low of $4.17 and a 12 month high of $21.48. The firm’s 50-day moving average is $5.57 and its 200 day moving average is $6.43. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.00 and a quick ratio of 0.66.

Diplomat Pharmacy (NYSE:DPLO) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.01). The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Diplomat Pharmacy had a negative return on equity of 3.54% and a negative net margin of 8.93%. The company’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) EPS. Sell-side analysts forecast that Diplomat Pharmacy will post -0.79 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of DPLO. KBC Group NV purchased a new position in Diplomat Pharmacy during the 2nd quarter valued at about $46,000. Quantamental Technologies LLC bought a new stake in shares of Diplomat Pharmacy in the 1st quarter valued at about $63,000. Bank of Montreal Can boosted its holdings in shares of Diplomat Pharmacy by 138.4% in the 2nd quarter. Bank of Montreal Can now owns 11,444 shares of the company’s stock valued at $70,000 after buying an additional 6,644 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Diplomat Pharmacy by 446.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 13,104 shares of the company’s stock valued at $76,000 after buying an additional 10,708 shares in the last quarter. Finally, Acorn Wealth Advisors LLC bought a new stake in shares of Diplomat Pharmacy in the 1st quarter valued at about $82,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Diplomat Pharmacy Company Profile

Diplomat Pharmacy, Inc operates as an independent specialty pharmacy in the United States. The company operates through Specialty and PBM (pharmacy benefit management) segment. It provides specialty infusion pharmacy, patient care coordination, clinical, compliance and persistency program, patient financial assistance, specialty pharmacy training, benefits investigation, prior authorization, risk evaluation and medication strategy, retail specialty, and hub services, as well as clinical and administrative support services to hospitals and health systems.

Featured Story: What type of investment options does a Roth IRA provide?

Get a free copy of the Zacks research report on Diplomat Pharmacy (DPLO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Diplomat Pharmacy (NYSE:DPLO)

Receive News & Ratings for Diplomat Pharmacy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diplomat Pharmacy and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply